The multi-billion dollar Baha Mar resort near Nassau in the Bahamas has begun construction, marked by its official groundbreaking ceremony last February 21. Expected to open in late 2014, the 1,000-acre complex is billed as the largest single-phase resort development in the history of the Caribbean. The launch signals the much-awaited start of a project [...]
TimeShare Holdings (TMSH) and Western International External Corporation (WIEC) has announced a joint venture with Shandong Taishan Real Estate Co. to build and operate the Panlongshanshui Senior Healthy Living Center in Jinan City, China. The project will amount to over $230 million dollars and TMSH and WIEC will be seeking the aid of a financial [...]
The Registry Collection, a fractional real estate exchange program, recently announced the newest member of their network, the Lower Mill Estate in Gloucestershire, England. Lower Mill is the first English resort to join the network. Jeremy Paxton, owner of Lower Mill Estate, said that working with The Registry Collection was an easy decision. “The Registry [...]
In a recent announcement in Perspective Magazine, a publication that caters to the fractional and timeshare industry, Interval International was mentioned as agreeing to be a Bronze Sponsor for the First Annual Global Networking Expo, GNEX 2011. “It is a privilege to be the keynote speaker at this inaugural event that will bring together shared [...]
Wyndham Worldwide Corporation has recently announced the public offering price of $250 million aggregate principal amount of its senior unsecured notes due March of 2021. The offer is expected to close on March 1, 2011. Wyndham intends to use the proceeds from the offering to reduce its outstanding debts, including a previously announced tender offer [...]
Accor SA, one of Europe’s largest hotel chains, will be implementing an asset-disposal plan to decrease its total debt by 1.2 billion euros ($1.6 billion) in the next two years. According to the hotelier, it will be able to sell an additional 450 hotels. Accor, which aims to manage most of the properties it plans [...]
To be able to reach over one million members of its resorts owners coalition (ROC), the American Resort Development Association (ARDA) has unveiled a new website, ARDA-ROC.org. The main purpose of the website is to build open communication with timeshare owners about the legislative and regulatory policies that impact the industry. According to Howard Nusbaum, [...]
Panama-based Green Planet Interactive S.A. is offering vacation seekers a piece of paradise in the form of a new fractional residence situated inside the gated community of Los Altos de Cerro Azul. Green Planet is opening 26 two-week time slots available in the vacation home “Azul Vista.” For a limited period, interested individuals can visit [...]
The Hyatt has recently reported its earnings from the fourth quarter of 2010. The adjusted EBITDA was $118 million, in comparison to the $104 million that was earned in the final quarter of 2009, a year-over-year rise of 13.5%. The net income attributable to the Hyatt was $6 million, an estimated $0.03 per share, compared [...]
Access Capital Services has obtained Safari Lodge in its endeavor to set up a timeshare under its subsidiary, Access Resorts. Safari Lodge is a private property located in Adama, formerly known as Nazareth, in Ethiopia, 100km east of Addis Abeba. Safari Lodge is a two-story property that lies on a 3,000sqm plot. It has 17 [...]